Policy Pillar: Against the backdrop of the IRA, how Europe is now setting out a clear hydrogen path forward

Europe is unquestionably a global leader when it comes to hydrogen policy and development. But its status has been rocked by the passing of the US Inflation Reduction Act (IRA), which is enticing companies with production tax credits and redirecting global investment flows.

The continent is fighting back. On February 1, 2023, European Commission (EC) President, Ursula Von der Leyen, and Executive Vice-President for Competition, Margrethe Vestager, launched the Green Deal Industrial Plan, and a Member States consultation on the revision of the state aid framework for Net Zero technologies.

The Green Deal Industrial plan will be structured around four pillars; a predictable and simplified regulatory environment; faster access to funding; ensuring proper skills for the green transition; and open trade for resilient supply chains.

Other new European policy moves include the Net Zero Industry Act, which will identify clear goals for European clean tech by 2030, in a bid to focus investment on strategic projects along the entire supply chain.

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